Due to the location of our stock we have a portfolio of commercial properties including a parade of bookshops on Charing Cross Road. Half of Soho Housing Association’s schemes are “mixed use”, in the sense that our residential units were built above or alongside other uses which form part of the same plot of land. These other uses include an art gallery, leisure centre, chapel, museum, community centre, covered market and restaurants as well as a range of different retail and office uses.
 
After many years of sustained growth the past two years have been difficult in obtaining lettings for our new commercial properties. We have now been successful in letting leases for two restaurants – one to Cachamay (Venezuelan Spanish for waterfall) in Hampstead Road and the other to Tas, a Turkish restaurant in Farringdon Road. We are hoping to sell our vacant commercial unit in York Way.There have been two new tenants in Charing Cross Road – Café Vergano opened in August and Everwell’s Chinese Centre opened in November 2002. We have also been negotiating rent reviews in Charing Cross Road and have agreed terms with the remaining bookshops.
 
Charing Cross Road Bookshops
 
We own 13 shops in the Sandringham Flats East Parade – these are the even numbers of Charing Cross Road from 48 to 80. Seven of these shops sell books, four are retail selling gifts, tobacco, prints and confectionery. The other two are the new lettings to the coffee shop and the Chinese herbalist.
 
Soho Housing Association is concerned that because of such events as the ending of the Net Book Agreement; the arrival of book megastores such as Borders, Blackwells and Waterstones; and the increasing growth of competition from internet companies such as Amazon, it is a challenging time for specialist booksellers. We are committed to preserving the overall character of the parade and will continue to let to booksellers as long as we can find tenants who are able to pay a fair, unsubsidised, market rent.

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